PNGLNG Project

However, he raised concerns that not all these funds are going straight to Treasury but to Government corporations.

“The dividend goes to the Kumul structure which is the Kumul Consolidated Holdings Ltd. Hundreds of millions of kina goes through Kumul and filtered out according to their board of directors.

“I have been arguing that these sort of revenues must go straight to Treasury and must not be filtered through Government corporations where they pay all their expenses and give the Government a little dividend,” Mr Abel said.

They follow after thirty-seven (37) major beneficiary clans in Segment Seven (7), Kikori, who were the first to receive their share; K9.2 million out of K21.9 million earmarked as cash benefits for the entire pipeline segments of the project.

The Mineral Resources Development Company (MRDC) officially launched the payment exercise Wednesday, 5th March in Kikori, Gulf province, witnessed by the Minister for Petroleum and Energy, Hon. Kerenga Kua and the Governor for Gulf, Hon, Chris Haiveta.